Voyager Digital has now filed for Chapter 11 Bankruptcy. Tuesday, July 5
Customers with USD deposits in their accounts will have to wait until reconciliation and fraud prevention processes by the Metropolitan Commercial Bank have been completed. The announcement does not address customers holding crypto balances in their accounts…
————————————————————————————————————————————-
Chief Executive Officer of Voyager Digital, Stephen Ehrlich, made the announcement saying “This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time.”
Voyager had previously announced its subsidiary, Voyager Digital LLC, issued a notice of default to Three Arrows Capital (“3AC”) for failure to make payments on its loan of 15,250 BTC and $350 million USDC. According to the company spokesperson, “Voyager is actively pursuing all available remedies for recovery from 3AC, including through the court-ordered liquidation process in the British Virgin Islands.”
Good luck with that.